Petrofac News 1700X397
19 May 2016

Board Changes

Further to the announcement on 24 February 2016, the Company confirms that Andrea Abt and George J. Pierson join the Company today as independent Non-executive Directors, following approval by shareholders at the Annual General Meeting.

Andrea, spent her executive career with Siemens AG, the largest engineering company in Europe, where she held a range of leadership positions, most latterly as Head of Supply Chain Management and Chief Procurement Officer, Infrastructure & Cities. She has an extensive background in a variety of functional roles, including sales, finance, procurement and logistics. She is a non-executive director of Brammer Plc and SIG plc, and is a member of the supervisory board of Gerresheimer AG.

George is the former CEO of Parsons Brinckerhoff, the American multinational design and engineering firm. He is a qualified lawyer and engineer, with a strong background in risk management, contracting, construction law, compliance and cost efficiency. He is a non-executive director of WSP Global Inc, Terracon Consultants, Inc. and Railworks LLC, and is President of The Pierson Advisory Group.

Rijnhard van Tets, Petrofac's Chairman, commented: "It gives me great pleasure to welcome Andrea and George to Petrofac. I believe it is essential that our Board continues to be refreshed to maintain a well-balanced and multi-disciplinary forum and I have no doubt that both Andrea and George, with their considerable experience, will each make strong individual contributions. We look forward to working with them."

Committee changes

As a result of the above-noted changes, the Board committees are comprised as follows with immediate effect:

Nominations Committee: Rijnhard van Tets (Chairman), Andrea Abt, Ayman Asfari, Thomas Thune Andersen, Matthias Bichsel, Kathleen Hogenson, René Médori and George Pierson

Audit Committee: René Médori (Chairman), Thomas Thune Andersen, Matthias Bichsel, Kathleen Hogenson and George Pierson

Remuneration Committee: Thomas Thune Andersen (Chairman), Andrea Abt, Matthias Bichsel and Kathleen Hogenson

There are no additional disclosures in respect of paragraph 9.6.13 (1) to (6) of the FCA Listing Rules.